Author Question: Describe the characteristics of tenants in common ownership. What will be an ideal ... (Read 80 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
Describe the characteristics of tenants in common ownership.
 
  What will be an ideal response?

Question 2

Describe the characteristics of tenants by the entireties ownership.
 
  What will be an ideal response?



mk6555

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

A tenancy in common is a form of concurrent ownership that may, but is not required to have all five unities. Tenants in common do not have to be spouses, take title at the same time, from the same source, or with equal interests. Tenants in common share an equal right to possess and occupy the property. Each co-tenant has the right to individually, without the agreement of the other tenants in common, to transfer her interest by sale, gift, or devise.

Answer to Question 2

A tenancy-by-the-entirety is a form of concurrent ownership similar to a joint tenancy with the right of survivorship, but limited to married couples. It is the only form of concurrent ownership which shares all five of the unities. The most important feature is the absolute, unequivocal right of survivorship by a surviving spouse in the event of the death of the other spouse.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

mk6555

  • Sr. Member
  • ****
  • Posts: 310

 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

For a complete list of videos, visit our video library